Crime Today News
The stock of Zee Entertainment Enterprises (ZEE) bottomed out in early March after finding support at ₹90. After confirming the bullish trend reversal in April by validating the inverted head and shoulder pattern, the stock continued to appreciate. Last week, it broke out of a key trendline resistance at ₹122, which has opened room for another leg of uptrend. Although the stock has seen some moderation in the last two sessions, the uptrend remains intact. We expect the stock to resume the rally soon and move to ₹160 over the next few sessions. So, go long at ₹124 and ₹120. Place stop-loss at ₹112. On a rally to ₹140, alter the stop-loss to ₹128. Tighten the stop-loss to ₹140 when the price hits ₹150. Liquidate the longs at ₹160.
Video Credit: Businessline
(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)
Published on May 22, 2025
This article first appeared on The Hindu Business Line
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